2023年业绩创历史新高，B端AI应用持续突破

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Insights - In 2023, the company achieved a record high performance with revenue of 5.962 billion yuan, a year-on-year increase of 24.06%, and a net profit attributable to shareholders of 887 million yuan, up 63.84% year-on-year [1]. - The gaming business showed significant improvement with a revenue of 4.497 billion yuan, a 26.51% increase year-on-year, and a net profit of 1.105 billion yuan, growing 44.46% year-on-year [1]. - The company is set to launch two new SLG games overseas in 2024, which are expected to drive further growth in the gaming sector [2]. - The AI/ICT operations management business saw a revenue increase of 20.08% year-on-year, with innovative business revenue growing by 45.10% [2]. - The company is focused on enhancing its core AI technologies, with the "Taiyue Xiaocui" platform significantly improving operational efficiency for collection agencies [2]. Financial Overview - The company reported a total revenue of 5.962 billion yuan in 2023, with a year-on-year growth rate of 24.1% [3]. - The net profit attributable to shareholders for 2023 was 887 million yuan, reflecting a year-on-year growth of 63.8% [3]. - The projected revenues for 2024, 2025, and 2026 are 7.035 billion yuan, 8.091 billion yuan, and 9.062 billion yuan respectively, with corresponding net profits of 1.003 billion yuan, 1.191 billion yuan, and 1.353 billion yuan [3][11]. - The company's P/E ratios for the next three years are projected to be 18x, 15x, and 13x respectively [2]. Business Segments - The gaming segment is expected to continue its growth trajectory with the successful performance of existing titles and the introduction of new games [1][2]. - The software and information technology services segment is expanding, particularly in ICT operations management and cloud services, contributing to overall revenue growth [2]. - The company is leveraging its AI capabilities to enhance service offerings, particularly in the financial sector, which is expected to drive future revenue [2].